High Level Forum Globalization and Global Crisis: The Role of Official Statistics Monday, 23 February 2009 ECOSOC Chamber 3:00-6:00 pm
|
|
- Gerard Logan
- 5 years ago
- Views:
Transcription
1 High Level Forum Globalization and Global Crisis: The Role of Official Statistics Monday, 23 February 2009 ECOSOC Chamber 3:00-6:00 pm The Global Economic Crisis and the Role of Official Statistics Justin Yifu Lin Senior Vice President and Chief Economist The World Bank
2 The Global Economic Crisis and the Role of Official Statistics Justin Yifu Lin Senior Vice President and Chief Economist The World Bank Main Messages The crisis is likely to protract if the developed and developing countries do not adopt a decisive, coordinated fiscal stimulus. More statistical data are needed to respond to the crisis The World Bank stands ready to work with international statistical community to strengthening data collection and analysis 2 1
3 The financial crisis and its impacts Since the financial crisis erupted in the fall last year, IMF and the World Bank have repeatedly adjusted the global forecasts downward. Forty percent of developing countries are exposed to the poverty effects of the crisis. According to the newest forecast, World Bank estimates that 46 million more people will fall under poverty line than was expected before the crisis. This is on top of the million people that was pushed into poverty due to the food/fuel crises. 200, ,000 deaths of children before age of 5 each year if crisis persists ILO estimates that 50 million job loss in 2009 There are many downside risks for the projection of recovery in The Collapse in Equity Market was as severe as that in the US in 1929/30 and in Japan in 1990/ Standardised Stock Price Indices Dow Jones: 1929=100 NIKKEI: 1989=100 AEX: 2007= NKKEI ( ) Dow Jones ( ) AEX ( ) 4 2
4 Excess capacity is the root of downside risks The governments quick actions prevent widespread bankruptcies in financial sector The excess capacity emerges: The Wealth effect results in sharp reduction in demand The boom in was accompanied by huge investments in real estate and manufacturing sectors globally, which contributed to the sharp increase in capacity The Excess capacity and vicious cycle 5 Two key determinants of recovery Avoiding protectionism Coordinated fiscal stimulus However, many developing countries are constrained by Fiscal deficits due to food and fuel crisis Shortage of foreign reserves- one third of developing countries already had current account deficits of more than 10 percent of GDP 6 3
5 The World Bank s s responses To prevent the economic crisis turn into human crisis and to assist developing countries to adopt the countercyclical fiscal stimulus, the World Bank has adopted measures to Frontload IDA15 grants Triple IBRD Lending Enhance IFC programs Initiate Vulnerability Fund 7 Improving data to respond to the crisis Three areas need urgent action Timely data on labor markets, social protection, and poverty More data on non-bank financial institutions and on derivatives More data on household assets and asset distribution to measure wealth effects better. Official statistics agencies need to take broad view of their public role The need to resist pressures to cut budgets for statistics 8 4
6 World Bank support to country statistical systems Better data requires effective national statistical systems Crisis presents an opportunity similar to Asian crisis in the nineties World Bank, with partners, supporting a three- stage strategy Invest in capacity of national statistical systems Make better use of existing data Support global data efforts such as the ICP 9 What is being done? Investing in statistical capacity Working with PARIS21 and other partners to support national strategies for statistics Scaling up investment through the Statistics for Results Facility Making better use of data International Household Survey Network Accelerated Data Program Living Standards Measurement Program Supporting global data efforts, especially the International Comparison Program 10 5
7 Some issues to consider Scale up and sustain capacity strengthening programs Improve dialogue between statisticians and policy makers Strengthen and streamline global coordination Form strategic partnerships with academia, the private sector, and other data suppliers and users Place financing of global public goods on a sounder footing Resist pressures to cut budgets for statistical organizations 11 6
The World Bank Group s Response to Economic Crises: Views from IEG Independent Evaluation Group World Bank / IFC / MIGA
The World Bank Group s Response to Economic Crises: Views from IEG Independent Evaluation Group World Bank / IFC / MIGA Caroline Heider / Anjali Kumar OECD - DAC Paris, February 9, 2012 1 Crisis Support
More informationAgainst the Consensus Reflections on the Great Recession. Justin Yifu Lin National School of Development Peking University
Against the Consensus Reflections on the Great Recession Justin Yifu Lin National School of Development Peking University Contents What caused the global crisis A win-win path to recovery Can developing
More informationGovernor's Statement No. 30 October 7, Statement by the Hon. ZHOU XIAOCHUAN, Governor of the Fund for the PEOPLE'S REPUBLIC OF CHINA
Governor's Statement No. 30 October 7, 2016 Statement by the Hon. ZHOU XIAOCHUAN, Governor of the Fund for the PEOPLE'S REPUBLIC OF CHINA Statement by the Hon. ZHOU Xiaochuan, Governor of the Fund for
More informationThe Forty-Second Annual Meeting of Governors of the Board of the Asian Development Bank (Indonesia, Bali, May 4 (Monday), 2009)
The Forty-Second Annual Meeting of Governors of the Board of the Asian Development Bank (Indonesia, Bali, May 4 (Monday), 2009) 1 Introduction Mr. Chairman, Mr. President, distinguished Governors, ladies
More informationChapter two Overview of the Macroeconomic Situation and Outlook for Africa
002 Chapter two Overview of the Macroeconomic Situation and Outlook for Overview of the Macroeconomic Situation Economic Outlook for and the Role of the Bank Chapter 002 Overview of the Macroeconomic Situation
More informationClosing Developing Countries Capital Drain
ECONOMICS JOSEPH E. STIGLITZ Joseph E. Stiglitz, recipient of the Nobel Memorial Prize in Economic Sciences in 2001 and the John Bates Clark Medal in 1979, is University Professor at Columbia University,
More informationThe Financial Crisis in Emerging Markets: Lessons for Global and Not-So-Global Financial Architecture
The Financial Crisis in Emerging Markets: Lessons for Global and Not-So-Global Financial Architecture Conference Preventing the Next Financial Crisis Columbia University, December 11, 2008 Erik Berglof
More informationFinancial Crisis and Global Recession: At a Turning Point?
Financial Crisis and Global Recession: At a Turning Point? Richard Newfarmer Special Representative to UN and WTO World Bank Geneva June 29,, 2009 Main messages Recession in the US now appears to be bottoming
More informationChina, ACFTU and Global Governance Processes
Trade Union Training on Global Governance and Roles of Trade Unions China, ACFTU and Global Governance Processes ALL-CHINA FEDERATION OF TRADE UNIONS Mingfei Zhao Contents 01 02 03 Emerging Countries and
More informationCAN EQUITIES RECOVER?
TD Economics Special Report November, 28 www.td.com/economics CAN EQUITIES RECOVER? Global equity markets have suffered a severe correction, with losses over a 2-week period ending on November 2 th of
More informationYves Mersch: Challenges of excessive indebtedness
Yves Mersch: Challenges of excessive indebtedness Keynote lecture by Mr Yves Mersch, Governor of the Central Bank of Luxembourg, at the Euro Finance Week, Frankfurt am Main, 15 November 2011. * * * Ladies
More informationWBG Infrastructure Response to the Crisis
WBG Infrastructure Response to the Crisis BA April 2009 BANK FOR INTERNATIONAL WORLD BANK 1 DEVELOPMENT RECONSTRUCTION AND Outline I. Context and Background II. Infrastructure and the Crisis III.WBG Response
More informationPolicy Responses to the Global Economic Crisis
SPECIAL REPORT Policy Responses to the Global Economic Crisis BY JUSTIN YIFU LIN T H O U G H M A N Y K N E W that the risks of a severe financial crisis were mounting, the necessary changes in policies
More informationProject LINK Meeting (September, 2017) Country Report for Nigeria
Project LINK Meeting (September, 2017) Country Report for Nigeria ECONOMIC OUTLOOK AND FORECAST (2017-2019) S. O. Olofin, O. E. Olubusoye, A. A. Salisu, K. O. Isah, T.F. Oloko and A.E. Ogbonna Centre for
More informationGlobal Imbalances and the U.S. Current Account Deficit. Economics 826 January 2009
Global Imbalances and the U.S. Current Account Deficit Economics 826 January 2009 1 A. What are the facts? B. Why is this trend worrying? C. What are the possible causes? D. What are the possible adjustments?
More informationGlobal Financial Crisis: Global Financial Crisis: Fundamental
Global Financial Crisis: Fundamental Causes and Remedies Narongchai Akrasanee, Ph.D. Chairman, Export - Import Bank of Thailand Chairman, MFC Asset Management Plc. 23 rd Asia-Pacific Roundtable 1-4 June
More informationThe World Economic & Financial System: Risks & Prospects
The World Economic & Financial System: Risks & Prospects Dr. Jacob A. Frenkel Chairman & CEO Group of Thirty (G30).Bank Indonesia 7th Annual International Seminar Global Financial Tsunami: What Can We
More informationEconomic Currents. We shuddered last August at the collapse. The State of the State Economy A LAN C LAYTON-MATTHEWS
The State of the State Economy Economic Currents A LAN C LAYTON-MATTHEWS ILLUSTRATION: NAOMI SHEA Even as we are experiencing the full effect of the Asian crises that began in the summer of 1997, the United
More informationNew Financial Architecture as a Global Public Good. Stephany Griffith-Jones
New Financial Architecture as a Global Public Good Stephany Griffith-Jones International financial stability and efficiency is a very important global public good, especially significant for poor people
More informationFinancial Crises, Stabilization, and Deficits
PART IV FURTHER MACROECONOMICS ISSUES Financial Crises, Stabilization, and Deficits 15 CHAPTER OUTLINE The Stock Market, the Housing Market, and Financial Crises Stocks and Bonds Determining the Price
More informationNINETY-FOURTH MEETING WASHINGTON, D.C. OCTOBER
DEVELOPMENT COMMITTEE (Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund on the Transfer of Real Resources to Developing Countries) NINETY-FOURTH MEETING WASHINGTON, D.C.
More informationAsia s Debt Risks The risk of financial crises is limited, but attention should be paid to slowing domestic demand.
Mizuho Economic Outlook & Analysis November 15, 218 Asia s Debt Risks The risk of financial crises is limited, but attention should be paid to slowing domestic demand. < Summary > Expanding private debt
More informationPROGRESS REPORT ON THE ECONOMIC AND FINANCIAL ACTIONS OF THE LONDON, WASHINGTON AND PITTSBURGH G20 SUMMITS PREPARED BY KOREA, CHAIR OF THE G20
PROGRESS REPORT ON THE ECONOMIC AND FINANCIAL ACTIONS OF THE LONDON, WASHINGTON AND PITTSBURGH G20 SUMMITS PREPARED BY KOREA, CHAIR OF THE G20 NO. SUMMIT COMMITMENT PROGRESS AND NEXT STEPS 1 We commit
More informationGovernor of the Bank of Latvia
Lessons from Latvia s internal adjustment strategy Ilmārs Rimšēvičs Governor of the Bank of Latvia September 4, 2012 Presentation outline Overheating of Latvia s economy Expansionary consolidation Lessons
More informationTHE NEW ECONOMY RECESSION: ECONOMIC SCORECARD 2001
THE NEW ECONOMY RECESSION: ECONOMIC SCORECARD 2001 By Dean Baker December 20, 2001 Now that it is officially acknowledged that a recession has begun, most economists are predicting that it will soon be
More informationMACROECONOMIC PERFORMANCE
MACROECONOMIC PERFORMANCE Strengthening Public Financial Management Program (RRP TON 46385) A. Background 1. Tonga is composed of 176 small, remote islands in the South Pacific Ocean between Fiji and Niue.
More informationGlobal Financial Crisis: Impact on India
Global Financial Crisis: Impact on India Mathew Joseph Pankaj Vashisht ICRIER-INVENT Workshop Current Developments in Indian Financial System New Delhi 20 March 2009 1 Roots of Global Crisis Global macroeconomic
More informationThe Sustainable Development Commitments Mobilizing Resources for Implementing the SDGs Anne Bakilana Program Leader World Bank Group
The Sustainable Development Commitments Mobilizing Resources for Implementing the SDGs Anne Bakilana Program Leader World Bank Group @wbg2030 worldbank.org/sdgs Symposium on Governance for Implementing
More informationTenth meeting of the Working Group on Education for All (EFA) Concept paper on the Impact of the Economic and Financial Crisis on Education 1
Tenth meeting of the Working Group on Education for All (EFA) Concept paper on the Impact of the Economic and Financial Crisis on Education 1 Paris, 9-11 December 2009 1. Introduction The global financial
More informationTREASURY AND FEDERAL RESERVE FOREIGN EXCHANGE OPERATIONS
EMBARGOED: FOR RELEASE AT 4:00 PM, EST, THURSDAY, JANUARY 29, 1998 TREASURY AND FEDERAL RESERVE FOREIGN EXCHANGE OPERATIONS October December In a period marked by dramatic developments in Asia, the dollar
More informationDemographic Changes and Challenges for Financial Sector
November 19, 2018 Bank of Japan Demographic Changes and Challenges for Financial Sector Remarks at the Paris EUROPLACE Financial Forum in Tokyo Haruhiko Kuroda Governor of the Bank of Japan Introduction
More information6-8 September 2011, Manila, Philippines. Jointly organized by UNESCAP and BANGKO SENTRAL NG PILIPINAS. Country Experiences 3: Net Energy Exporters
High-level Regional Policy Dialogue on "Asia-Pacific economies after the global financial crisis: Lessons learnt, challenges for building resilience, and issues for global reform" 6-8 September 2011, Manila,
More informationSECTOR ASSESSMENT (SUMMARY): PUBLIC SECTOR MANAGEMENT (PUBLIC EXPENDITURE AND FISCAL MANAGEMENT) Sector Performance, Problems, and Opportunities
Improving Public Expenditure Quality Program, SP1 (RRP VIE 50051-001) SECTOR ASSESSMENT (SUMMARY): PUBLIC SECTOR MANAGEMENT (PUBLIC EXPENDITURE AND FISCAL MANAGEMENT) 1 Sector Road Map 1. Sector Performance,
More informationEast Asia Crisis of Econ October 8, Team 5 Bryan Darch Svend Egholm Paramdeep Singh Sarah Zullo
East Asia Crisis of 1997 Econ 7920 October 8, 2008 Team 5 Bryan Darch Svend Egholm Paramdeep Singh Sarah Zullo The East Asian currency crisis of 1997 caused severe distress for the countries of East Asia
More informationRecovery with a Human Face Isabel Ortiz, Associate Director Policy and Practice UNICEF New York, 18 February 2010
Recovery with a Human Face Isabel Ortiz, Associate Director Policy and Practice UNICEF New York, 18 February 2010 Fordham University-UNICEF Forum on Child Friendly Budgets for 2010 and Beyond: Toward Global
More informationEXECUTIVE SUMMARY. Global Economic Environment
Global Economic Environment The global expansion is losing speed in the face of a major financial crisis (Chapter 1). The slowdown has been greatest in the advanced economies, particularly in the United
More informationAchievements and Challenges
LDCs Graduation in Asia-Pacific: Achievements and Challenges Ministerial Meeting of Asia-Pacific Least Developed Countries on Graduation and Post 2015 Development Agenda Kathmandu, Nepal 16-18 December
More informationPress Release No. 45 October 8, Statement by the Hon. JAN KEES DE JAGER, Governor of the Bank for the KINGDOM OF THE NETHERLANDS NETHERLANDS
Press Release No. 45 October 8, 2010 Statement by the Hon. JAN KEES DE JAGER, Governor of the Bank for the KINGDOM OF THE NETHERLANDS NETHERLANDS Statement by Jan Kees de Jager Minister of Finance of the
More informationChina CHINA S RISING DEBT: WHEN DOES A BUBBLE BECOME TROUBLE?
PRICE POINT October 2016 Timely intelligence and analysis for our clients. China CHINA S RISING DEBT: WHEN DOES A BUBBLE BECOME TROUBLE? KEY POINTS Chris Kushlis Fixed Income Sovereign Analyst, Asian Markets
More information10.2 Recent Shocks to the Macroeconomy Introduction. Housing Prices. Chapter 10 The Great Recession: A First Look
Chapter 10 The Great Recession: A First Look By Charles I. Jones Media Slides Created By Dave Brown Penn State University 10.2 Recent Shocks to the Macroeconomy What shocks to the macroeconomy have caused
More informationThe Chiang Mai Initiative Multilateralisation: Origin, Development and Outlook
The Chiang Mai Initiative Multilateralisation: Origin, Development and Outlook by Chalongphob Sussangkarn Presented at a conference on Regionalism and Reform of the Global Monetary & Financial System:
More informationSeventeenth Meeting April 12, 2008
International Monetary and Financial Committee Seventeenth Meeting April 12, 2008 Statement by Anders Borg Minister of Finance, Sweden On behalf of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania,
More informationThoughts on the Current Recession: Keynesian Economics
Thoughts on the Current Recession: Keynesian Economics May 1, 2009 This brief is part of a series of research briefs Utah Foundation is publishing on the economy. The series examines the current economic
More informationInternational Monetary and Financial Committee
International Monetary and Financial Committee Twenty-Fifth Meeting April 21, 2012 Statement by Margrethe Vestager Minister for Economic Affairs and the Interior, Denmark On behalf of Denmark, Estonia,
More informationOpening Remarks for an LSE Panel on the Global Economic Crisis: Meeting the Challenge
1 Opening Remarks for an LSE Panel on the Global Economic Crisis: Meeting the Challenge Speech given by Timothy Besley, Member of the Monetary Policy Committee, Bank of England and Kuwait Professor of
More informationThe Financial Crisis and Trade Protectionism: WTO s s work on monitoring
The Financial Crisis and Trade Protectionism: WTO s s work on monitoring Maika Oshikawa WTO Institute for Training and Technical Cooperation October 2010 Outline Background on the global crisis Impact
More informationEx-ante Evaluation. Country: Republic of the Philippines Program: Development Policy Support Program (III) and Emergency Budget Support
Japanese ODA Loan Ex-ante Evaluation 1. Name of the Program Country: Republic of the Philippines Program: Development Policy Support Program (III) and Emergency Budget Support Japanese ODA Loan Loan Agreement:
More informationChapter 1. Globalization and the Multinational Corporation Cambridge University Press 1-1
Chapter 1 Globalization and the Multinational Corporation 2018 Cambridge University Press 1-1 1.1 Introduction Globalization Increasing connectivity and integration of countries and corporations and the
More informationFY2016, FY2017 Economic Outlook The global economy will gradually pick up. Will Trump change the world?
Mizuho Economic Outlook & Analysis December 2016 FY2016, FY2017 Economic Outlook The global economy will gradually pick up. Will Trump change the world? The Japanese economy will lift off from the landing
More informationGrowth, investment and jobs: The international financial dimension. Working Party on the Social Dimension of Globalization November 14th, 2005
Growth, investment and jobs: The international financial dimension Working Party on the Social Dimension of Globalization November 14th, 2005 Growth, investment and jobs At times of global economic integration,
More informationInternational Monetary and Financial Committee
International Monetary and Financial Committee Sixteenth Meeting October 20, 2007 Statement by Joaquin Almunia Commissioner, European Commission Statement by Commissioner Joaquin Almunia to the International
More informationAs of August 13, 2004 Index YTD % Change Market Value Dow Jones Industrials - 6.0% S&P % Nasdaq Composite % 1757.
As of August 13, 2004 Index YTD % Change Market Value Dow Jones Industrials - 6.0% 9854.92 S&P 500-4.2% 1064.80 Nasdaq Composite - 12.3% 1757.22 August 16, 2004 The Equity market is facing many obstacles
More informationCentral government administration (80%); Sub-national government administration (20%) Operation ID
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized PROGRAM INFORMATION DOCUMENT (PID) APPRAISAL STAGE 31 March 2016 Report No.: AB7818 (The
More informationNon-Ferrous Metals in Latin America: Challenges and Opportunities
Non-Ferrous Metals in Latin America: Challenges and Opportunities Joint Study Groups Seminar Mining and Metals in Latin America October 7, 2015 Paulo de Sa Practice Manager The World Bank Key Messages
More informationMoney and Banking. Lecture XII: Financial Risks in the Chinese Economy. Guoxiong ZHANG, Ph.D. December 5th, Shanghai Jiao Tong University, Antai
Money and Banking Lecture XII: Financial Risks in the Chinese Economy Guoxiong ZHANG, Ph.D. Shanghai Jiao Tong University, Antai December 5th, 2017 Source: http://editorialcartoonists.com Road Map Foundations
More informationThe Great Depression, golden age, and global financial crisis
The Great Depression, golden age, and global financial crisis ECONOMICS Dr. Kumar Aniket Bartlett School of Construction & Project Management Lecture 17 CONTEXT Good policies and institutions can promote
More informationPROGRAM INFORMATION DOCUMENT (PID) CONCEPT STAGE. First Governance and Competitiveness Development Policy Operation (DPO1) Region
PROGRAM INFORMATION DOCUMENT (PID) CONCEPT STAGE Report No.: AB6864 Operation Name First Governance and Competitiveness Development Policy Operation (DPO1) Region AFRICA Sector Central government administration
More informationAnnex 4. The St. Petersburg Accountability Assessment
Annex 4 The St. Petersburg Accountability Assessment The G-20 s Accountability Assessment framework was established to monitor progress against past commitments and identify areas where further policy
More informationPROGRAM INFORMATION DOCUMENT (PID) Appraisal stage Report No Operation Name Financial Sector Development Policy Loan Region
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized PROGRAM INFORMATION DOCUMENT (PID) Appraisal stage Report No. 50225 Operation Name Financial
More informationInstructions and Rules:
Name: Honor Pledge Signature: Section: Due Date: 5 pm on Monday, 11/23 (Place inside box outside my office door) Instructions and Rules: This is a timed (1 hour no breaks), closed book, takehome exam.
More informationIMF PERFORMANCE PRELIMINARY DRAFT ISSUES PAPER INDEPENDENT EVALUATION OFFICE (IEO) IN THE RUN-UP TO THE CURRENT FINANCIAL AND ECONOMIC CRISIS
IMF PERFORMANCE IN THE RUN-UP TO THE CURRENT FINANCIAL AND ECONOMIC CRISIS PRELIMINARY DRAFT ISSUES PAPER FOR AN EVALUATION BY THE INDEPENDENT EVALUATION OFFICE (IEO) July 27, 2009 I. INTRODUCTION 1. The
More informationEthiopia, with a population of about 79.1 million, is the second most
IDA at Work Ethiopia: Protecting the Most Vulnerable Ethiopia, with a population of about 79.1 million, is the second most populous country in Sub-Saharan Africa. One of the world s oldest continuous civilizations,
More informationCountry Partnership Framework. for Poland
Country Partnership Framework for Poland 2018-2023 World Bank Group The World Bank Group (WBG) is an international financial institution (IFI) with the mission to fight poverty and support inclusive growth.
More informationDeflatie : Vloek of Zegen?
Deflatie : Vloek of Zegen? Presentatie VBA Heiko de Boer 29 April 2015 Agenda Current Situation Keynes Theory Austrian School Theory ECB Policy Summary Long term Inflation BIS Report BIS on Japan BIS Conclusion
More informationTrade Adjustment in Asia: Past Experience and Future Risks
Trade Adjustment in Asia: Past Experience and Future Risks Matthias Helble, Senior Economist, Co-Chair, ADBI UNESCAP Regional Dialogue on «Enhancing the Contribution of Preferential Trade Agreements to
More informationPROJECT INFORMATION DOCUMENT (PID) APPRAISAL STAGE
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Project Name Region Country PROJECT INFORMATION DOCUMENT (PID) APPRAISAL STAGE Russia
More informationASSESSING THE RISK OF A DOUBLE-DIP RECESSION: KEY INDICATORS TO MONITOR
Weekly Economic Perspective ASSESSING THE RISK OF A DOUBLE-DIP RECESSION: KEY INDICATORS TO MONITOR August 2, 2010 Robert F. DeLucia, CFA Consulting Economist Summary and Major Conclusions: Heightened
More informationDBRS Confirms Republic of Portugal s Rating at BBB (low), Stable Trend
Date of Release: November 21, 2014 DBRS Confirms Republic of Portugal s at BBB (low), Stable Trend Industry: Public Finance--Sovereigns DBRS s Limited (DBRS) has confirmed the Republic of Portugal s long-term
More informationBusiness Environment: Russia
Business Environment: Russia Euromonitor International 13 April 2010 Despite the economic recession of 2009, a recovery is expected in 2010. The business environment remains challenging due to over-regulation,
More informationMalaysia. Real Sector. Economic recovery is gaining momentum.
Malaysia Real Sector Economic recovery is gaining momentum. Malaysia s economy grew 4.7% in the first three quarters of 23, well above the year-earlier pace of 3.7%. GDP rose 5.1% in the third quarter,
More informationCrisis effects on ACP countries
Crisis effects on ACP countries Challenges for decision-makers Alex Wilks, European Network on Debt and Development ACP EU Joint Parliamentary Assembly, 12 th February 2009 www.eurodad.org 1 Reduced inflows
More informationPROGRAM INFORMATION DOCUMENT (PID) CONCEPT STAGE July 21, 2017 Report No.: MG Public Finance Sustainability and Investment II DPO
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized PROGRAM INFORMATION DOCUMENT (PID) CONCEPT STAGE July 21, 2017 Report No.: 120763 Operation
More informationAsian Financial Crisis. Jianing Li/Wei Ye/Jingyan Zhang 2018/11/29
Asian Financial Crisis Jianing Li/Wei Ye/Jingyan Zhang 2018/11/29 Causes--Current account deficit 1. Liberalization of capital markets. 2. Large capital inflow due to the interest rates fall in developed
More informationSlides for International Finance Macroeconomic Policy (KOM Chapter 19)
Macroeconomic Policy (KOM Chapter 19) American University 2010-09-17 Preview Macroeconomic Policy Goals of macroeconomic policies Monetary standards Gold standard International monetary system during 1918-1939
More informationTen years after: Implications of the current financial market turmoil. Dr. Atchana Waiquamdee Deputy Governor Bank of Thailand
Ten years after: Implications of the current financial market turmoil Dr. Atchana Waiquamdee Deputy Governor Bank of Thailand I. The 1997 East Asia Crisis II. Latest Episode Causes of the 1997 Crisis 3
More informationPromoting Canada s Economic and Financial Welfare
Promoting Canada s Economic and Financial Welfare Remarks to the Lévis Chamber of Commerce Lévis, Quebec 8 February 2010 Pierre Duguay Deputy Governor Mandate The Bank of Canada s mandate, as set out in
More informationTomomi Miyazaki Graduate School of Economics, Kobe University
Housing (Land Price) Bubbles, Government Responses, and Economic/Corporate Adjustments in Japan Tomomi Miyazaki Graduate School of Economics, Kobe University Issues to be Discussed Today 1. Land price
More informationPresentation. The Boom in Capital Flows and Financial Vulnerability in Asia
High-level Regional Policy Dialogue on "Asia-Pacific economies after the global financial crisis: Lessons learnt, challenges for building resilience, and issues for global reform" 6-8 September 2011, Manila,
More informationQUESTIONS CHAPTER 25 SHORT-RUN ECONOMIC POLICY
QUESTIONS CHAPTER 25 SHORT-RUN ECONOMIC POLICY Question 25.1 Suppose the citizens of a small open economy with a fixed exchange rate suddenly realize that the future is not as bright as they had imagined.
More informationBOARDS OF GOVERNORS 2009 ANNUAL MEETINGS ISTANBUL, TURKEY
BOARDS OF GOVERNORS 2009 ANNUAL MEETINGS ISTANBUL, TURKEY WORLD BANK GROUP INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL FINANCE CORPORATION INTERNATIONAL DEVELOPMENT ASSOCIATION
More informationMonthly Economic Report
Monthly Economic Report April 19, 2018 Copyright Mizuho Research Institute Ltd. All Rights Reserved. 1. The Japanese Economy: the business conditions DI deteriorated; FY2018 fixed investment plans were
More informationchapter: Savings, Investment Spending, and the Financial System Krugman/Wells 1 of Worth Publishers
chapter: 10 >> Savings, Investment Spending, and the Financial System Krugman/Wells 2009 Worth Publishers 1 of 58 WHAT YOU WILL LEARN IN THIS CHAPTER The relationship between savings and investment spending
More informationEvaluating the international monetary system and the availability to move towards one single global currency
Faculty of Commerce Graduate Studies Economics Department A Thesis Summary: Evaluating the international monetary system and the availability to move towards one single global currency Submitted by: Mohammed
More informationView of the month July 2017
View of the month July 2017 Dear investor, What a great way to the end the month! The JSE All Share index closed at a record high on Monday 31 July 2017, ending the day above 55,000 points for the first
More informationChina: The Long and Short of Economic Reform
Global Economics Monthly July 2014 China: The Long and Short of Economic Reform Robert Kahn, Steven A. Tananbaum Senior Fellow for International Economics O V E R V I E W Bottom Line: China looks on track
More informationInternational Monetary and Financial Committee
International Monetary and Financial Committee Thirty-Sixth Meeting October 14, 2017 IMFC Statement by Toomas Tõniste Chairman EU Council of Economic and Finance Ministers Statement by Minister of Finance,
More informationREAL ESTATE BOOMS, RECESSIONS AND FINANCIAL CRISES
REAL ESTATE BOOMS, RECESSIONS AND FINANCIAL CRISES Christophe André OECD Economics Department Joint work with Thomas Chalaux OECD Economics Department Recent trends in the real estate market and its analysis,
More informationBretton Woods Intentional Interdependence Bretton Woods New Hampshire. I.M.F.
Bretton Woods- 1944 Intentional Interdependence Bretton Woods New Hampshire. U.S. and U.K. established funds and rules with U.S. dollar to be the reserve currency. I.M.F. Created to facilitate a return
More information2013 Fourth Quarter Equity Market Review
Market & Investment Insights 2013 Fourth Quarter Equity Market Review WILLIAM RIEGEL, HEAD OF EQUITY INVESTMENTS Article Highlights: U.S. stocks moved higher in the fourth quarter, capping the best year
More informationARE THERE SPECIAL RISKS FROM TRADE AND FINANCE IN THE RECESSION?
ARE THERE SPECIAL RISKS FROM TRADE AND FINANCE IN THE 2008-9 RECESSION? Sheila Page International Chair WTO/Regional Integration University of Barcelona December 2008 Policy Brief 1 All international economic
More informationJapan: Recent Macroeconomic
Japan: Recent Macroeconomic Developments and Outlook Presentation by Giovanni Ganelli Senior Economist IMF Regional Office for Asia and the Pacific Mizuho Investment Conference September 13, 2013, Tokyo
More informationFrom crisis response to recovery, jobs and sustainable growth
From crisis response to recovery, jobs and sustainable growth Statement by Mr Juan Somavia, Director-General, International Labour Office International Monetary and Finance Committee and Development Committee
More informationChapter Eleven. The International Monetary System
Chapter Eleven The International Monetary System Introduction 11-3 The international monetary system refers to the institutional arrangements that govern exchange rates. Floating exchange rates occur when
More informationKeeping the Door Open Amidst the Global Financial Crisis
Keeping the Door Open Amidst the Global Financial Crisis Lawrence J. Lau, Ph. D. President and Ralph and Claire Landau Professor of Economics The Chinese University of Hong Kong and Kwoh-Ting Li Professor
More informationAnnex 1: Country Profile ANTIGUA AND BARBUDA
ANTIGUA AND BARBUDA Annex 1: Country Profile Population: 79, (23) GNI per capita: US$9,95 (24 est. Atlas methodology) 1. Profile. Antigua and Barbuda is a three-island economy (Redonda is the third) which
More informationInternational Comparison Program (ICP)
International Comparison Program (ICP) 2003 2006 ROUND Responding to the need for robust global economic statistics The International Comparison Program (ICP) is a global statistical initiative involving
More informationA Case for Countercyclical Monetary Policy in the Caribbean
CONFERENCE ON THE ECONOMY 2018 UWI STA A Case for Countercyclical Monetary Policy in the Caribbean Dr. Justin Ram Director of Economics, Caribbean Development Bank The Big Picture: Last 10 Years in the
More informationFROM BILLIONS TO TRILLIONS:
98023 FROM BILLIONS TO TRILLIONS: MDB Contributions to Financing for Development In 2015, the international community is due to agree on a new set of comprehensive and universal sustainable development
More informationEconomic Institution Building in Asia
Economic Institution Building in Asia Masahiro Kawai Dean Asian Development Bank Institute Institution Building in Asia for Peace and Development Organized by the Asian Peace Science Network (APSN), JICA-RI,
More informationEconomics Challenge Macroeconomics Practice Test The market value of all final goods and services produced in the economy in a given year is the
For each of the following questions, select the choice that BEST corresponds with the answer. You will receive 10 points for each correct answer; 5 points will be deducted for each incorrect answer. Points
More information